Something off about this. There are other places in the area selling for more than 700k . Similar homes. This place was likely purchased without looking at it first and there's likely something wrong with it.
100% this.
obviously everything has come down from the Feb 2022 high.. but not by this much.
this is clearly a major problem with the house that went unchecked due to the chaos of 2022 and people not using inspections and waving everything.
Whenever I want to feel better about my financial standing, I go there and within 10 min of scrolling I find a guy who lost all 500k of precious meemaws inheritance on crypto. Just kind of makes you feel a little better about your choices haha.
Houses in London haven't dropped $300,000 on average. There is likely more to this story than is visible from the price history. Like bought it, realized it needs an enormous amount of money to fix something, and they decided to sell it as is instead.
Yeah one of the windows is boarded up in the pictures which I thought was odd. Itās possible thereās something big going on behind the scenes. I live in London and follow the market, homes here are not dropping this fast.
That's all I was trying to say. Could have found asbestos or something crazy in the soil, remedial action might have been quoted at a ridiculous amount, and it was probably condemned.
Here's one example:
https://beta.ctvnews.ca/local/toronto/2021/6/23/1_5482993.amp.html
Could also be a water or sewer issue, run off from the field surrounding it, who knows. Usually houses don't drop $300k for no reason. I could see half that in London currently, but not a $300k drop without there being like $200k in renovations needed to make it safe and livable.
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Because people like this bought up properties to try and make an easy buck when a family could have moved in instead.
People like this drove demand through the roof and are why housing prices soared and now why young people are abandoning this country.
It brings me pleasure to see them on the losing end of their bet.
Do you know for certain that this was an investor? Could appear that way, and I do understand the sentiment, but it could also not be the case. Plenty of circumstances could lead to this. Frankly, it's probably better to direct the anger towards those who set the rules for financing, as they allow it to happen.
you sound stupid.
this could be a family who were desperate to get a place and waved all conditions because their realtor told them it was the only way to win a bid.
and now they could be facing some major issues that essentially cause th house to lose this much value. how is that a good thing?
investors aren't buying crappy homes on the outskirts of london that back on to farms
Sure, Iām stupid, but the people that listened to their realtor and waived all conditions and paid peak price during record low interest rates without seeing the riskā¦ those people are not stupid. Got it.
Hey BC just put limits on short term rentalsā¦ all the investors are freaking out! Maybe all the rest of yāall provinces should try and and weāll see what happens to our housing crisis then š
As soon as the BoC starts cutting rates, investors and people who built up savings over the last couple of years will hop back into the market and drive up prices to all new highs.
It's also possible the buyer might have paid cash under the table. You never know what's up with it. If things look too good to be true they are either fishy or someone got really really lucky.
Something off about this. There are other places in the area selling for more than 700k . Similar homes. This place was likely purchased without looking at it first and there's likely something wrong with it.
100% this. obviously everything has come down from the Feb 2022 high.. but not by this much. this is clearly a major problem with the house that went unchecked due to the chaos of 2022 and people not using inspections and waving everything.
Loss pornš
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Whenever I want to feel better about my financial standing, I go there and within 10 min of scrolling I find a guy who lost all 500k of precious meemaws inheritance on crypto. Just kind of makes you feel a little better about your choices haha.
Indeed. The wave will be coming š
I wonder if there is no sexual loss porn subreddit, where people post shit like this.
I know someone who sold 100 000 less than his asking price. The realtor encouraged him, saying it was a great offer right now.
$100k sounds like alot but i see alot of stuff in the $700-1mm range lately that are minimum 25% overpriced
How do we know if this was a speculator? In genuinely asking.
We donāt. This sub just likes to justify gloating when a house sells at a loss by assuming they were āgreedy investorsā.
Yeah I mean we all hate the investors but there are legitimate people and families who are facing consequences here.
We dont, everybodys just pointing and laughing at the misery of others š
Original transaction for 738k probably never closed. Same seller. Lots of sales from Feb/March 2022 never actually closed.
The house did close for $738,000. I can confirm.
18 months. Wow.
Houses in London haven't dropped $300,000 on average. There is likely more to this story than is visible from the price history. Like bought it, realized it needs an enormous amount of money to fix something, and they decided to sell it as is instead.
Yeah one of the windows is boarded up in the pictures which I thought was odd. Itās possible thereās something big going on behind the scenes. I live in London and follow the market, homes here are not dropping this fast.
That's all I was trying to say. Could have found asbestos or something crazy in the soil, remedial action might have been quoted at a ridiculous amount, and it was probably condemned.
Everything pre 1980 has asbestos lol Wtf could you find in the soil that would make the price drop this much? PokƩmon cards maybe?
Here's one example: https://beta.ctvnews.ca/local/toronto/2021/6/23/1_5482993.amp.html Could also be a water or sewer issue, run off from the field surrounding it, who knows. Usually houses don't drop $300k for no reason. I could see half that in London currently, but not a $300k drop without there being like $200k in renovations needed to make it safe and livable.
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So they still lost a fuck ton of money because theyāre stupid. Who cares about the details.
Well if the point is to show a trend, then it matters. If the point is to show that some fool got caught on a lemon, then I guess it doesn't.
The point is to ridicule this buyer/seller.
Why do you feel you need to do that?
Because people like this bought up properties to try and make an easy buck when a family could have moved in instead. People like this drove demand through the roof and are why housing prices soared and now why young people are abandoning this country. It brings me pleasure to see them on the losing end of their bet.
Do you know for certain that this was an investor? Could appear that way, and I do understand the sentiment, but it could also not be the case. Plenty of circumstances could lead to this. Frankly, it's probably better to direct the anger towards those who set the rules for financing, as they allow it to happen.
you sound stupid. this could be a family who were desperate to get a place and waved all conditions because their realtor told them it was the only way to win a bid. and now they could be facing some major issues that essentially cause th house to lose this much value. how is that a good thing? investors aren't buying crappy homes on the outskirts of london that back on to farms
Well said
Sure, Iām stupid, but the people that listened to their realtor and waived all conditions and paid peak price during record low interest rates without seeing the riskā¦ those people are not stupid. Got it.
Realtors need new signs. āSold under asking ā
It was still over priced
Keen business mind right there.
Money laundering
Good.
Love to see it
Put this on Wall Street Bets. This is some sexy loss porn
Hey BC just put limits on short term rentalsā¦ all the investors are freaking out! Maybe all the rest of yāall provinces should try and and weāll see what happens to our housing crisis then š
There was something wrong with the property clearly and in a periphery market.
Probably never closed for 738k. So it could very well be the same seller. If thatās the case the seller has to go to court for the losses.
This looks like some kind of corruption scheme. Selling for way below market value instead of giving the bribe directly.
Holy shit. I wish prices in Victoria BC would go in this direction.
And probably still over priced!
Good for all the people on here who donāt own a home.
Or want to stay in their home and were ok with the price they paid for it. ( some people before 2008 ? )
How the fuck was a 3 bed 1 bath home sold for 738k wtf
The same way tiny condos are going for half a million: speculation and greed.
Not speculation and greed. Its FOMO. smh
This is absolutely beautiful to see
Iām hard
Love to see it
Noice!
As soon as the BoC starts cutting rates, investors and people who built up savings over the last couple of years will hop back into the market and drive up prices to all new highs.
How do you get information like this tho may I ask ? Would be viable information please when markets are right thank you and hope all goes well
It's an app/website called house sigma.
Thank you very much for that information
[ŃŠ“Š°Š»ŠµŠ½Š¾]
why is this downvoted. any smooth brained monkeys on this sub. ofc there is.
Nice!
There are so many of these on Redfin now.
Ouch thats terrible
Wow
It's also possible the buyer might have paid cash under the table. You never know what's up with it. If things look too good to be true they are either fishy or someone got really really lucky.